Sony India sets Rs 420 crore budget for marketing

Sony India has set up a marketing budget of Rs 150-crore for the upcoming festive season and for the entire year the company has set a target of Rs 420 crore for the same, its managing director Kenichiro Hibi said today.PTI | August 30, 2016, 08:29 IST

BENGALURU: Sony India has set up a marketing budget of Rs 150-crore for the upcoming festive season and for the entire year the company has set a target of Rs 420 crore for the same, its managing director Kenichiro Hibi said today.

"The festive period of August-November is an important period for us to further enhance our sales. The marketing budget for this year's festive season will be 150 crore, besides Rs 420 crore for the whole year," Hibi told here.

Hibi was here to promote Sony India's business in Bengaluru and Karnataka.

The company is expecting a positive growth this festive season as it would see major sporting events like New Zealand and England home series against India.

"These cricketing events, especially the home series, boosts sales of television sets in India, unlike when it doesn't motivate customers when there are no sporting events," he said.

To a query, he said this year Sony is aiming 25% growth in customer audio and video segments across India.

"This year, we are projecting to make 25% sales growth in audio and video segment across India and Karnataka region should be bigger than that," he told reporters earlier.

To another query, Hibi said Karnataka is the major market for Sony India contributing 10-15% growth annually.

"The total contribution of Karnataka to Sony India is 10-15% annually. This is one of the major markets because we have 25 branches," he said.

Also, the growth ratio compared to other states is the biggest for Karnataka, he said.

However, Maharashtra is on par with this neighbouring state with similar growth charts, Hibi said.

"The growth ratio of Karnataka is the biggest compared to other states. However, Maharashtra is registering similar growth, but Karnataka is clearly leading at this moment," he added.

The company is doing good business in the premium segment of Bengaluru market because it is able to match the technological demands of the people in the city, which is the IT hub of India, Hibi said.

"The potential of Bengaluru market is good. We are doing good business here because it is IT hub and customers seek good technology and the company is able to match to their demands," he said.

"Not only in Bengaluru, but also the company sees continuous growth in other parts of Karnataka like Mysuru, Hubli and Mangaluru markets as well," Hibi said.

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